Kyckr and BAE Systems Applied Intelligence Partner to Offer Enhanced KYC Solutions Worldwide

SAN FRANCISCO, March 16, 2021 (Newswire.com) - Kyckr Limited (ASX:KYK) (Kyckr or the Company), a B2B information services company, is pleased to announce its partnership with BAE Systems Applied Intelligence, a proven enterprise solution provider of advanced analytics, to jointly address anti-money laundering and compliance challenges of regulated firms by delivering accurate and efficient know-your-customer (KYC) and customer due diligence (CDD) solutions.

This partnership will empower mutual customers to benefit from Kyckr's network of over 180 registries and 170 million entities across 120 countries.

"Competitive advantage lies in providing a frictionless customer journey - while minimizing risk," said Peter Fisher, Product Director, BAE Systems Applied Intelligence. "Partnering with Kyckr enables the automated screening of corporate records data within our NetReveal Customer Due Diligence solution. The result is effective investigations, better detection and, ultimately, a smoother end customer experience."   

This contract validates the ever-growing demand for Kyckr's capabilities and services supplying real-time access to company registry information as regulations have an increased demand for reliable, up-to-date KYC information. According to a study by Facts and Factors, the global KYC market was estimated at $257.23 million in 2019 and is expected to reach $1,015.36 million by 2026 and is expected to grow at a compound annual growth rate (CAGR) of 22% from 2019 to 2027.

Kyckr's Head of Partnerships, Myles McLaren, said, "We are delighted to be partnering with BAE Systems Applied Intelligence to provide live registry data to their end customers, improve KYC capabilities via enhanced access to our registry network and bring the best solution to their customers. We look forward to continuing to provide leading services in KYC compliance."

About Kyckr 

Kyckr is a B2B information services company that aggregates, organizes and structures the world's primary source company data to help businesses reduce the risks associated with counterparty relationships. Unlike traditional data companies which source data from multiple, secondary sources, Kyckr provides accurate data with trusted, legally authoritative provenance. This helps organisations to avoid the significant regulatory and commercial costs associated with using poor quality data. Through the combination of accurate data with innovative technology, Kyckr's solutions help businesses to succeed in the fight against fraud, money laundering and financial crime.  

About BAE Systems Applied Intelligence

At BAE Systems Applied Intelligence, we help nations, governments and businesses around the world defend themselves against cybercrime, reduce their risk in the connected world, comply with regulation, and transform their operations. For further information about BAE Systems Applied Intelligence, please visit www.baesystems.com/financialservices.

Media Contact
Holly Hitchcock
Front Lines Media
(669) 247-6521 

Source: Kyckr